2 weeks Ago By Bloomberg News
UK automaker Jaguar Land Rover is pausing shipments of its cars to the US following the introduction of tariffs by Donald Trump’s government, The Times newspaper reported.The Coventry, England-headquartered company is putting these exports on hold from Monday as it looks at ways to mitigate the impact of the new regulation, the Times reported on Saturday, without saying where it got the information. Jaguar Land Rover didn’t respond to a request for comment by Bloomberg News outside of regular business hours.
The US government introduced a 25% tariff on imported cars, which went into effect on Thursday. The Jaguar Land Rover move is the latest example of the global fallout from the policy, with other automakers also rethinking their business strategies. “Our luxury brands have global appeal and our business is resilient, accustomed to changing market conditions,” Jaguar Land Rover said ahead of the tariff implementation in a statement on its website published Wednesday.
“Our priorities are now delivering for our clients around the world and addressing these new US trading terms.” Jaguar Land Rover sold 430,000 vehicles in the 12 months up to March 2024, of which almost a quarter were in North America, according to its latest annual report. In January it reported a 17% drop in quarterly pretax profit.
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